Can anyone tell me what is involved with Trust Splitting? How long it takes to settle (roughly)? Is there anything I should look out for in the set up of this as I am going through seperation and my ex partner is setting this up. As he likes control of everything, he may have it set up in a way to benefit himself in the long run. I don’t want him to come along after I have added value to these propertys and pull it all out from under me.
thanx for your time
Hi
I beleive each trust has to be exactly the same as the original – otherwise the ATO may deem new trusts to be established.
You had better seek good legal advice on this. Brett Davies talks about trust splitting in his newsletters sometimes – and claims a 100% success rate i think. see http://www.lawcentral.com.au
Terryw
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